Lightly coat the chicken thighs with salt and pepper. Heat 1 tbsp of olive oil on a large skillet over medium-high heat. Add chicken thighs to skillet and let them brown on each side – 2-3 minutes per side. Set aside on a separate plate.
Reduce the heat to medium and add remaining oil, onions and red bell peppers. Cook stirring for 1 minute. Add chopped garlic and cook until garlic is fragrant and onions are translucent. Set onion, garlic, red bell pepper mixture on a separate plate.
Add 1 tsp of cornstarch to 1 cup of chicken broth. Mix well. Stir into skillet along with the basil leaves and thyme.
Add the browned chicken thighs, onions, garlic and red peppers back into the skillet. Bring to a boil, cover and reduce heat to medium-low. Let the chicken simmer for 30 minutes until chicken is tender.
Add the olives and let it simmer for another 5 minutes.